3 min read

SeatlabNFT = 0.5% $SEAT

SeatlabNFT = 0.5% $SEAT
  • Total % of sale - 0.5%
  • What is the token - $SEAT
  • Token allocation and vesting period  - 2112500
    25% TGE. Daily unlock for 3 months



Utility

Staking
Anybody can stake their $SEAT to receive staking rewards. SeatlabNFT paysout 50% of all platform fees collected as staking rewards. The other 50% of
collected platform fees will go to the SeatlabNFT treasury (more on this below).
We use a tiered staking structure to categorise people by the number of tokens
they are staking. The more people stake, the higher up in this tier structure they find themselves. The top tiers get access to more valuable rewards such as VIP tickets, backstage passes, meet-and-greets, free tickets and much more, which people can claim in place of staking rewards paid out in $SEAT. A user can choose to either claim the revenue split or to claim from the rewards matrix.

Buyers fee discount

The default buyer’s fee is 5%. Buyers who hold $SEAT will pay reduced buyer’s fees when purchasing NFT tickets. The exact discount depends on the number of $SEAT tokens a buyer holds. When a buyer’s fee discount is applied, it is taken out of the Treasury’s portion of the platform fees so that staking rewards are fully protected.


Treasury

The SeatlabNFT treasury is dedicated to providing the funding to
develop the marketplace further and fund all other company running costs.
9.5% of the total supply of $SEAT tokens was allocated to the Treasury
during the token launch. It receives 50% of all platform fees (minus buyer’s fee discounts).



Roadmap

Phase 1

  • Planning and user research
  • Team expansion
  • Seed & private token sale
  • Start development of NFT ticket wallet & marketplace

    Phase 2
  • $SEAT token IDO
  • Event creator grant applications open
  • NFT ticketing marketplace launch
  • NFT ticket mobile wallet launch
  • Brand partnerships & Rewards Centre launch


Phase 3

  • Mass onboarding
  • Token Staking portal release
  • Large scale launch events
  • Start phase 2 platform development


Why NEAR

We're using the Gen-3 NEAR Protocol as the blockchain infrastructure for the SeatlabNFT marketplace.

We needed a solution to high gas fees and the scalability issues that other Gen-2 and Gen-3 blockchain solutions face. Because of the high-volume minting capability event organisers need, this technology would be infeasible if gas fees reached even a fraction of what they currently are within the Ethereum ecosystem.

NEAR Protocol's approach to scaling and ensuring gas fees stay low is a process they call Nightshade. It's a sharding architecture designed to partition the blockchain into smaller pieces, so nodes don't have to process it fully every time a new block is created. By processing blocks in this way, nodes only have to maintain smaller portions of the chain, which speeds the network up, reduces congestion, and ultimately keeps gas fees low. Nightshade enables the NEAR blockchain to process 100,000 transactions per second.

Thanks to NEAR, artists and event organisers can mint thousands of NFT tickets on the SeatlabNFT marketplace quickly, and incur no fees.


Project info
SeatlabNFT uses NFT technology to increase connectivity between artists, fans, event organisers, and brands. We are creating a more immersive experience for event-goers, and allowing artists to provide real value in their relationships with fans by identifying and
rewarding loyalty and event attendance.

The live events industry is driven by profit, plagued by touts and dehumanised by bots; we’re developing a new system that puts experience and connection back at the heart of attending live events.

Web3 has the potential to drastically improve the overall experience of attending live events for fans by giving them a more meaningful way to interact with their favourite artists. It has also enabled us to provide event organisers and brands with a new medium to connect with event attendees in a more genuine way.

Built on the NEAR Protocol blockchain, our platform also aims to revolutionise the event ticketing industry by eliminating fraud and significantly reducing the impact of scalping. We’re tokenising tickets and governing their use with smart contracts. Smart contracts enable predefined royalty splits. When a ticket is minted, artists and event creators can choose where a percentage of the revenue from any secondary sales is directed, reducing the impact of ticket scalping and putting secondary revenue back in the pockets of artists and event organisers.

Blockchain technology is enabling us to offer artists and event organisers unparalleled control over the secondary ticketing market, while ensuring fans enjoy a more immersive experience.

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